Latest Expert Exchange Queries
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
 
 
 
 
Popular Search: empanelment :: articles on VAT and GST in India :: list of goods taxed at 4% :: cpt :: due date for vat payment :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: TAX RATES - GOODS TAXABLE @ 4% :: ACCOUNTING STANDARD :: ARTICLES ON INPUT TAX CREDIT IN VAT :: TDS :: VAT RATES :: Central Excise rule to resale the machines to a new company :: VAT Audit :: form 3cd :: ACCOUNTING STANDARDS
 
 
News Headlines »
 How to link your Aadhaar and PAN details to file income-tax returns
 How to calculate capital gains tax on property sold at less than stamp value?
 Return Filing - Under GST, this is how you will file tax returns from July 1
 Income tax filing FAQs part 1
 Filing Income Tax Returns? Things To Keep In Mind As Deadline Approaches
 Filing of online return for 4th quarter of 2016-17- extension of period thereof.
 New tax accounting standards may reduce leeway for infrastructure companies
 GST – CONCEPT & STATUS – As on 01st May, 2017
 Govt extends VAT deadline, relief for developers
 Income Tax Appellate Tribunal Rules, 2017
 Got your Form 16? You should file income tax returns early to enjoy benefits

Govt forms unit for tax administration reform
February, 04th 2016

To bring in coherence in tax policy, the government on Tuesday announced the constitution of a common tax policy unit that will take a holistic view of direct and indirect tax policies besides determining the negative side-effects of tax decisions.

The announcement is the first step in reforming tax administration as suggested by the tax administration reforms commission (TARC) headed by Parthasarathi Shome.

In its statement, the finance ministry announced the constitution of a tax policy council headed by the finance minister as well as a tax policy research unit.

While the tax council, advisory in nature, will suggest broad policy measures for taxation, the tax policy research unit will study various tax and fiscal policies, liaise with state commercial tax departments and assist the tax policy council in decision-making. It will also elaborate the legislative intent behind specific proposals, their impact on tax collections, as well as the likely economic impact of the proposals.

Besides the finance minister, members of the tax policy council include the minister of state for finance, commerce and industry ministers, chief economic advisor as well as secretary-level officers from the ministries of finance and commerce and a NITI Aayog representative.

The tax policy research unit will have members from both the Central Board of Direct Taxes (CBDT) and Central Board of Excise and Customs (CBEC) as well as economists, statisticians, operational researchers and legal experts, the statement said.

The unit will be headed by an officer of the level of chief commissioner, alternately from the CBDT and CBEC, for a fixed tenure, who will directly report to the revenue secretary.

TARC had stressed the need to bring consistency, multidisciplinary inputs and coherence in policymaking and suggested a common tax policy unit to cater to the needs of both direct and indirect taxes. TARC was constituted by the previous Congress-led United Progressive Alliance government and submitted its first report in 2014.

Sunil Shah, partner, Deloitte Haskins and Sells LLP, said in a note, “These steps will enable the government to take an integrated view of direct and indirect taxes and obtain inputs from a broad spectrum of professionals. This will help in the formulation of balanced and forward-looking tax policies.”

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Our Experience

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions